B C D E $12,500 $15,000 $2,500 $30,000 A 1 ASSETS 2 Current Assets: 3 Cash 4 Accounts Receivable 5 Cleaning Supplies 6 Total Current Assets 7 8 Long-Term Assets: 9 Property and Equipment 10 Land 11 Building 1/ 12 Furnishings and Equipment 13 Less: Accumulated Depreciation 14 Total Long-Term Assets 1/15 16 Total Assets 17 18 LIABILITIES 19 Current Liabilities: 20 Notes Payable 21 Accounts Payable 22 Wages Payable 23 Total Current Liabilities $120,000 $800,000 $50,000 ($125,000) $845,000 $875,000 $23,700 $8,000 $300 $32,000 25 Long-Term Liabilities: 26 Mortgage Payable 27 Total Long-Term Liabilities $420,000 $420,000 $452,000 29 Total Liabilities 30 31 OWNER'S EQUITY 32 Owner's Equity: 33 R. Mountain, Capital at January 1, 20X1 34 Net Income for 20X1 35 Owner's Equity 36 37 Total Owner's Equity 38 39 Total Liabilities and Owner's Equity 40 $884,500 $38,500 $423,000 $423,000 $875,000 41 42 43 44 45 46 47 2. Using the excel sheet prepare calculate the below for tab 2: a Working Capital on December 31, 20x1 b. Working Capital on December 31, 20x2 c. Dollar difference in working capital from 20x1 to 20x2 d. Percent difference in working capital from 20x1 to 20x2 Hint: to calculate working capital, you must know total current assets and total current liabilities B C D E $12,500 $15,000 $2,500 $30,000 A 1 ASSETS 2 Current Assets: 3 Cash 4 Accounts Receivable 5 Cleaning Supplies 6 Total Current Assets 7 8 Long-Term Assets: 9 Property and Equipment 10 Land 11 Building 1/ 12 Furnishings and Equipment 13 Less: Accumulated Depreciation 14 Total Long-Term Assets 1/15 16 Total Assets 17 18 LIABILITIES 19 Current Liabilities: 20 Notes Payable 21 Accounts Payable 22 Wages Payable 23 Total Current Liabilities $120,000 $800,000 $50,000 ($125,000) $845,000 $875,000 $23,700 $8,000 $300 $32,000 25 Long-Term Liabilities: 26 Mortgage Payable 27 Total Long-Term Liabilities $420,000 $420,000 $452,000 29 Total Liabilities 30 31 OWNER'S EQUITY 32 Owner's Equity: 33 R. Mountain, Capital at January 1, 20X1 34 Net Income for 20X1 35 Owner's Equity 36 37 Total Owner's Equity 38 39 Total Liabilities and Owner's Equity 40 $884,500 $38,500 $423,000 $423,000 $875,000 41 42 43 44 45 46 47 2. Using the excel sheet prepare calculate the below for tab 2: a Working Capital on December 31, 20x1 b. Working Capital on December 31, 20x2 c. Dollar difference in working capital from 20x1 to 20x2 d. Percent difference in working capital from 20x1 to 20x2 Hint: to calculate working capital, you must know total current assets and total current liabilities
